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BMW, Ferrari, VW cars use tungsten mined by terrorists

Bloomberg Markets is reporting that BMW, Volkswagen and Ferrari have been using tungsten ore sourced from Columbia's FARC rebel terrorists. The extensive story focuses on Columbia's illegal mining trade and calls into question the provenance of the rare ore that is used not only in crankshaft parts production, but is also found in the world's computing and telecommunications industry for use in screens.
The ore is mined by the FARC (Fuerzas Armadas Revolucionarias de Colombia, or Revolutionary Armed Forces of Colombia - People's Army), and exported to Pennsylvania, where it is refined. The refined ore is then sent over to Austria, where a company called Plansee turns it into a finished product. Now, it's important to note that we aren't talking about the world's supply of tungsten here. In 2012, Plansee's American refinery purchased 93.2 metric tons of tungsten, valued at $1.8 million. That's peanuts, with the entire Colombian tungsten mining industry producing just one percent of the world's supplies.
That doesn't make indirectly supporting FARC any more acceptable, though. BMW, VW and Ferrari are all committed to not accepting mineral supplies from the Democratic Republic of Congo, which is also in the grips of a guerrilla insurrection funded, in part, by illegal mining. The same commitment would figure to extend to Colombian mining, but as BMW points out, it's difficult for a multi-national manufacturer to know where every item in its supply chain comes from. A company spokesperson says as much, telling Bloomberg, "These few grams out of the billions of tons of raw materials passing through the BMW supply chain are of no practical relevance."

Weekly Recap: Ferrari plans to gradually increase production by 2019

Ferrari has long been known for the exclusivity of its performance machines. It's on a different level than Porsche, BMW, and Mercedes. But as it transitions to a new era of independence from Fiat Chrysler, Ferrari is going to get a little less exclusive. It's by design, and it means a subtle, slow ramp-up of production – a move Ferrari believes will ensure its future by meeting growing demand in new markets. The strategy was detailed in SEC documents filed this month as part of the company's pending stock offering. The files reveal Ferrari will gradually increase shipments to about 9,000 units per year by 2019. This is a reversal of Ferrari's 2013 plans to cap production at 7,000 cars annually, which it hit on the nose that year. Ferrari shipments inched up to 7,255 in 2014, though that's down from 2012's record tally of 7,405. Ferrari is a vastly different operation than it was in 2013. Longtime chairman Luca di Montezemolo stepped down last fall, and FCA chief executive Sergio Marchionne has been overseeing the company since then. Its IPO has attracted high levels of attention from enthusiasts and investors. As expected, demand has reportedly outstripped the availability of the stock, which has an estimated offering price of $48 to $52 a share. Speaking of more Ferraris, the company revealed a limited-edition model this week called the F12tdf (shown above). Based on the F12 Berlinetta, the car is a salute to the Tour de France endurance auto race that Ferrari dominated in the 1950s and '60s. The V12 engine's output increases to 769 horsepower, while weight is cut by 243 pounds – allowing for a sprint to 60 mph in 2.9 seconds. Dramatic carbon-fiber elements and a radical redesign of the body panels give the F12 a more dramatic look. It will be limited to 799 units over the life of the car. If this is how Ferrari is increasing production, we're more than okay with the company's new strategy. OTHER NEWS & NOTES Tesla software unlocks Autopilot features Tesla released the latest version of its software for the Model S this week, which allows the all-electric sedan to drive in a semi-autonomous state called Autopilot. Tesla Version 7.0 enables the Model S to maintain lane position, change lanes by touching the turn signal, and manage the car's speed using an advanced, traffic-sensing cruise control. It also has a parallel parking feature, which searches for open spots and then parks your Tesla.

1964 Ferrari 250 LM sets Arizona auction record at $9.6 million [w/video]

We've seen some high-priced metal come up under the hammer in Arizona over the years, but the one you're looking at right here is the most expensive ever sold during the famous auction weekend. It's a Ferrari 250 Le Mans from 1964, the ninth of just 32 examples made. And RM Auctions just sold it for $9,625,000. That doesn't make it the most expensive Ferrari ever sold at auction, or even the top price paid for a 250 LM: according to figures from Sports Car Market, the same auction house has handled the top five highest-grossing 250 LMs of all time, including the 1965 Le Mans winner that sold in New York in 2013 for $14.3 million and another that sold last August in Monterey for $11.5 million. But it does make this example, according to RM, "the most valuable automobile sold in Arizona auction history." One of the earliest mid-engined Ferraris, the 250 LM was the last of Maranello's Le Mans winners. This particular example, chassis number 5899 GT, was sold by the factory to the famed Swiss racing team Scuderia Filipinetti, winning the Sierre-Montana Crans Hill Climb fresh out the box, followed immediately by another win at the XV Coppa Inter-Europa at Monza – both at the hands of Ferrari F1 and Le Mans drivers. After Filipinetti was done with it, 5899 GT was displayed at the Geneva Motor Show, was sold off the stand and changed hands a few more times – including one owner who oddly replaced the bodywork with that of a Porsche 906 Carrera 6 and another who swapped out the engine. It went on to win many more races, and was ultimately reunited with its original engine and proper bodywork. Restored several times over, 5899 GT was certified ten years ago by the Ferrari Classiche department and was even displayed at the factory museum in Maranello. The 250 LM wasn't the only noteworthy lot RM sold this weekend in the Frank Lloyd Wright Ballroom at the Arizona Biltmore, though. Several other Ferraris sold in the millions, from a '67 275 GTB/4 that sold for $3.6 million to a 2005 FXX Evoluzione for $1.6 million. The '71 Lamborghini Miura SVJ that was tipped to break the $2-million mark ultimately sold for under $1.9M, and the '84 Audi Sport Quattro ultimately dropped right in its estimate range at $401,500. All told, RM sold 90 percent of the metal it was consigned for the event, bringing in a whopping $63.7 million in sales. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.